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JK Lakshmi Cement tumbles after weak Q4 results

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fell 6.49% to Rs 481.65 at 10:16 on after net profit fell 19.4% to Rs 20.85 crore on 9.7% increase in net sales to Rs 806.72 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, the S&P Sensex was down 143.94 points, or 0.47% to 30,514.83.

On the BSE, 15,000 shares were traded in the counter so far, compared with average daily volumes of 22,622 shares in the past one quarter. The stock had hit a high of Rs 504.95 and a low of Rs 478.55 so far during the day. The stock hit a record high of Rs 535 on 17 May 2017. The stock hit a 52-week low of Rs 326.75 on 21 November 2016.

The stock had outperformed the market over the past one month till 17 May 2017, rising 13.80% compared with 4.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.69% as against Sensex's 8.33% rise.

The mid-cap company has equity capital of Rs 58.84 crore. Face value per share is Rs 5.

reported a net profit of Rs 82 crore in the year ended March 2017 compared with net loss of Rs 6.56 crore in the year ended March 2016. Net sales rose 11.1% to Rs 2910.41 crore in the year ended March 2017 over the year ended March 2016.

Meanwhile, the company said that its board approved raising upto Rs 500 crore by issuing securities, convertible/non-convertible, with or without warrant by any of public and/or private offerings and/or qualified institutions placement or any combination thereof, subject to requisite approval of the shareholders in the ensuing annual general meeting of the company.

is a cement manufacturer. It caters to infrastructure and construction sectors.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 18 2017. 10:16 IST